Graypoint LLC Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Graypoint LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,087 shares of the electric vehicle producer’s stock after buying an additional 2,129 shares during the quarter. Graypoint LLC’s holdings in Tesla were worth $7,708,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. acquired a new stake in Tesla during the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC raised its position in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the third quarter valued at about $29,000. Clean Yield Group increased its stake in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the period. Finally, Peterson Financial Group Inc. purchased a new position in Tesla during the third quarter worth about $35,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 3.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on TSLA. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Canaccord Genuity Group lifted their price target on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Truist Financial reaffirmed a “hold” rating and issued a $360.00 price objective on shares of Tesla in a research note on Thursday, January 2nd. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a report on Monday. Finally, Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $295.69.

Tesla Stock Down 0.1 %

TSLA traded down $0.20 during midday trading on Friday, hitting $394.74. 62,017,272 shares of the company’s stock traded hands, compared to its average volume of 83,472,883. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company has a market cap of $1.27 trillion, a PE ratio of 108.15, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30. The stock’s fifty day simple moving average is $373.68 and its 200-day simple moving average is $279.12. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period last year, the business earned $0.53 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.